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Postwar U.S. Business Cycles: An Empirical Investigation

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  • Hodrick, Robert J
  • Prescott, Edward C

Abstract

The authors propose a procedure for representing a time series of a smoothly varying trend component and a cyclical component. They document the nature of the comovements of the cyclical components of a variety of macroeconomic time series. The authors find that comovements are very different than the corresponding comovements of the slowly varying trend components. Copyright 1997 by Ohio State University Press.

Suggested Citation

  • Hodrick, Robert J & Prescott, Edward C, 1997. "Postwar U.S. Business Cycles: An Empirical Investigation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(1), pages 1-16, February.
    • Handle: RePEc:mcb:jmoncb:v:29:y:1997:i:1:p:1-16
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    1. List of examples of Stigler's law in Wikipedia English
    2. Quantitative Macroeconomics and Real Business Cycles (QM&RBC)

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